Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Greenway Dr Davison, MI 48423

    • Land
    • 51.48 lot acres
    For Sale
    View listing
    $329,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Greenway Dr

    Lot size
    51.48 lot acres
    Property type
    Land

    Description

    This exceptional 51.48-acre parcel presents a unique opportunity for residential development. Located in Davison, Michigan, on Greenway Dr., this property is zoned A-3 Residential/Single Family, allowing for the construction of single-family homes. The land is priced at $329,000, translating to an attractive $6,390 per acre. Its convenient location is north of Davison Road and east of State Road, offering easy access to local amenities and transportation routes. The property's considerable size provides ample space for a variety of residential projects. All utilities are readily available at the street, simplifying the development process. The Genesee County location and 48423 zip code further enhance its appeal. This is an ideal investment for builders or developers seeking a substantial residential building site in a desirable Michigan location. The APN is 52-03-400-017.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Davison
    County
    Genesee
    State
    Michigan
    Longitude
    -83.5098
    Latitude
    43.0381

    Comparable in this City

    • Value Estimation by Request
      5.00 Acres

      8406 Davison Rd

      Land • 5.00 Acres
      8406 Davison Rd, Davison, MI 48423
      View Details
    • Value Estimation by Request
      2.16 Acres

      Lapeer Rd

      Land • 2.16 Acres
      0 Lapeer Rd, Davison, MI 48423
      View Details
    • Value Estimation by Request
      16.63 Acres

      Lippincott Blvd

      Land • 16.63 Acres
      0 Lippincott Blvd, Davison, MI 48423
      View Details
    • Value Estimation by Request
      38.15 Acres

      I69 Multifamily

      Multifamily properties • 38.15 Acres
      I69 Multifamily, Davison, MI 48423
      View Details
    • Value Estimation by Request
      19.96 Acres

      Richfield Rd

      Multifamily properties • 19.96 Acres
      0 Richfield Rd, Davison, MI 48423
      View Details
    • Value Estimation by Request
      68.98 Acres

      Irish Rd At Lapeer Rd

      Land • 68.98 Acres
      0 Irish Rd At Lapeer Rd, Davison, MI 48423
      View Details

    Similar Nearby for Sale

    • $799,000
      68.98 Acres

      Davison, MI: 69 Acres Residential Land

      Prime Davison land, development ready. $799,000.
      0 Irish Rd At Lapeer Rd, Davison, MI 48423
      View Details
    • $299,900
      5.00 Acres

      Davison Road Commercial Land Opportunity

      5-Acre Commercial/Residential Lot
      8406 Davison Rd, Davison, MI 48423
      View Details
    • $350,000
      2.16 Acres

      Prime Davison Commercial Land

      2.16 Acres, High Visibility, $350K
      0 Lapeer Rd, Davison, MI 48423
      View Details
    • $329,000
      51.48 Acres

      Greenway Dr. Davison Land

      51 Acres Residential Building Site, $329,000
      0 Greenway Dr, Davison, MI 48423
      View Details
    • $999,900
      19.96 Acres

      Prime Davison Commercial Land

      19.96 acres, multi-use zoning, excellent investment.
      0 Richfield Rd, Davison, MI 48423
      View Details
    • $799,000
      4.00 Acres

      Prime Davison Retail Land

      4 Acres, I-69 Frontage, High Visibility
      9378 Lapeer Rd, Davison, MI 48423
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      550 SF

      Charming Davison 1-Bedroom Lease

      Cozy 1-bedroom, 1-bathroom unit in Davison, MI available for lease.
      912 N State Rd, Davison, MI 48423
      View Details
    • Contact for pricing

      Prime Commercial Parcel For Lease

      1.94-acre commercial parcel in high-traffic Davison retail corridor.
      N Irish Rd, Davison, MI 48423
      View Details
    • $4,000 /Mo
      2,128 SF

      Davison Medical Office For Rent

      Move-in ready medical suite in high-traffic Davison Township corridor.
      1260 N Irish Rd, Davison, MI 48423
      View Details
    • Contact for pricing
      9,598 SF

      Davison Retail Center - For Lease

      Prime Davison Shopping Center Space Available
      1208 Irish Rd, Davison, MI 48423
      View Details
    • Contact for pricing
      5,155 SF

      Davison Retail Space For Lease

      Prime Davison retail, two suites available.
      8079 Lapeer Rd, Davison, MI 48423
      View Details
    • $2,000 /Mo

      Retail Space in High-Traffic Area

      Retail space for lease in a high-traffic location.
      719A N State Rd, Davison, MI 48423
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Greenway Dr
    Davison, MI 48423
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.